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Veteran Advisor

Floor Talk November 30

At the close:

At the close, the December corn futures settled unchanged at $3.36 3/4, while March futures ended 1/2¢ lower at $3.48 1/2 per bushel. January soybean futures closed 10 1/4¢ lower at $10.32 1/4, while March soybean futures ended 9 3/4¢ lower at $10.41 1/4. March wheat futures closed 6¢ lower at $4.02 3/4. January soy meal futures finished $5.90 short ton lower at $318.30. January soy oil futures ended $0.37 higher at 36.99¢ per pound.  In the outside markets, the Brent crude oil market is $4.07 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 31 points higher.

 

Mike

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At mid-session:

At mid-session, the December corn futures are 2 1/2¢ higher at $3.39, while March futures are 1 1/4¢ higher at $3.50 per bushel. January soybean futures are 9¢ lower at $10.33, while March soybean futures are 8 3/4¢ lower at $10.42. March wheat futures are 2¢ higher at $4.10. January soy meal futures are $5.10 short ton lower at $319.10. January soy oil futures are $0.25 higher at 36.87¢ per pound.  In the outside markets, the Brent crude oil market is $3.90 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 60 points higher.

 

Mike

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At 9:55am:

U.S. Ethanol production dips, according to a press release from the Renewable Fuels Association, on Wednesday.

 

According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged 1.012 million barrels per day (b/d)—or 42.50 million gallons daily. That is down just 2,000 b/d from the week before. The four-week average for ethanol production stood at 1.011 million b/d for an annualized rate of 15.50 billion gallons.

Stocks of ethanol stood at 18.4 million barrels. That is a 2.7% decrease from last week and the lowest level of stocks in more than a year. Ethanol stocks currently sit at just over 20 days of supply, the lowest implied stocks-to-use since October 2015.

 

Mike

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At 9:25am:

 

If you missed the 8am Export Report, here it is.

 

Private exporters reported to the U.S. Department of Agriculture export sales of 123,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.
 
The marketing year for soybeans began Sept. 1.

 

Mike

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At 9am:

In early trading, the December corn futures are 4¢ higher at $3.40, while March futures are 3 1/4¢ higher at $3.52 per bushel. January soybean futures are 2¢ higher at $10.53, while March soybean futures are 2 1/2¢ higher at $10.53. March wheat futures are 4¢ higher at $4.12. January soy meal futures are $1.80 short ton lower at $322.40. January soy oil futures are $0.44 higher at 37.06¢ per pound.  In the outside markets, the Brent crude oil market is $3.01 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 80 points higher.

 

Mike

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